Parascript products automate data-intensive image and document processing activities, enabling increased efficiency and productivity at reduced cost. Parascript software processes any document with any data from any source with its easy-to-use, scalable image-based analysis, classification, data location, and extraction technology. More than 100 billion documents for financial services, government organizations, and the healthcare and life sciences industry are analyzed annually by Parascript. Our OEM and value-added reseller network partners integrate and distribute Parascript software in the US and across the world. Our Parascript powered solutions include:
In addition to Check Fraud Detection and Check Processing, we also offer Accounts Receivable and Accounts Payable processing and archiving solutions that enable straight through processing (STP) to help speed payment or collection processes. Using FormXtra Capture to provide technology that allows greater automated read rates from different data types (machine print, handprint, cursive, MICR and more) on many document types. Our solution identifies the exceptions while matching payments to invoices and only passes the discrepancies for review. Those capabilities provide advanced processing that enables faster time-to-cash or ability to take advantage of prompt payment discounts with increased productivity, accuracy and savings over manual processing costs.
Once the detail information and image are captured and processed the are routed for permanent archive and data re-purposing. Various Document Management Solutions can automate accounting-related workflows like routing a purchase order for approval, processing an invoice, receiving a payment and reviewing and filing tax or regulatory documentation. That means you can ensure consistency and verify that every step in your business process is followed.
Our Parascript solution for Receipt Data Capture offers the industry’s most accurate receipt capture solution powered by artificial intelligence and machine learning. Parascript’s template-less solution enables organizations to easily classify and extract key data from all types of receipts, including handwritten tips and totals.
Receipts are one of the most common documents used in everyday life. Valuable information on receipts is either collected through manual data entry or thrown out daily without a simple way to automatically recognize, capture and interpret the data. Enormous quantities of receipts are produced that are highly variable in terms of both layout and types of data. Handwritten information is also often part of a receipt.
Our solution allows for quick and easy access to receipt data. It will automatically classify, locate and extract all key data from your receipts captured using desktop scanners, portable scanners and mobile devices for your expense management, taxes and purchasing analysis. Parascript Receipt Data Capture is a template-less solution powered by artificial intelligence and machine learning so that new receipts can be easily recognized and processed.
Invoice processing in Accounts Payable can be a tedious and time-consuming process. Through automation, invoice processing can be fully streamlined. We typically see a 50 percent reduction in manual data entry through leveraging our software. Our Parascript solution supports high volume, advanced document processing of invoices, receipts and any other type of transaction-based documents in a single stream. Parascript software classifies documents, locates, extracts and verifies all key data for faster time-to-cash, as well as increased productivity, accuracy and savings over manual data entry.
Parascript technology drives the elimination of manual data entry and addresses document processing challenges that occur due to variability in location of data, content sensitivity, time sensitivity, and downstream errors leading to higher efficiency and significant cost reductions.
Our solution offers virtual drop-out for claims processing that has set a new standard for classification and recognition for black-and-white claims, overcoming image quality and scaling challenges. Parascript deep learning algorithms improve out-of-the-box accuracy to the industry’s highest level.Even service providers can expand their data capture offerings while insurers streamline their workflow processes and lower costs.Black-and-white claims can be converted to simulate drop-out ink forms; images are analyzed, and those that vary in size are reformatted to conform to expected layouts. Mobile images are transformed into high-quality scans, even without specialized mobile apps. Our virtual drop-out for claims sets a new industry standard for classification and recognition of black-and-white claims overcoming challenges of image quality and scale.Read More
Our Parascript signature verification solution enables signature authentication in applications including check processing, loan origination, voting by mail, and countless other uses where it is crucial to detect signature fraud. With a special focus on checks, we capture signatures from checks, minimizing the need for visual verification with a high degree of accuracy. Parascript SignatureXpert provides unprecedented accuracy for any application that needs to authenticate signatures.
SignatureXpert’s advanced functionality combines multiple verifiers to analyze dozens of signature features and can use multiple references to differentiate between natural anomalies and true irregularities that indicate fraud. Advanced image preprocessing capability uses confidence values as a basis for making decisions about signature genuineness and drawing conclusions about probable fraud type. Set confidence value as a threshold, depending on the specific applications ensure a clean image. Backgrounds and all type of noise are eliminated from check images, IRDs, and signature snippets cut from documents with inconsistent layouts.
Parascript check recognition solutions provide superior accuracy combined with a broad range of field extraction support. CheckXpert.AI supports location and extraction of key check fields (e.g., CheckXpert.AI US supports six key check fields). CheckUltra is built for remote deposit applications and provides the industry’s highest accuracy along with key compliance features.
Check Signature Verification: SignatureXpert captures signatures from checks and any other type of document, minimizing the need for visual verification with a high degree of accuracy. Parascript SignatureXpert provides the highest level of accuracy for any application that needs to authenticate signatures.
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